Daraz organization is a multinational era company that makes a speciality of e-trade, logistics, charge infrastructure and monetary offerings. founded in 2011 with the backing of Rocket internet, it became first launched in Pakistan as a web style retailer and later improved to Bangladesh, Sri Lanka, Nepal, and Myanmar as Daraz organization after a shift in its business version. In may additionally 2018, Daraz institution changed into received by way of chinese e-trade corporation Alibaba organization. Bjarke Mikkelsen is founding father of Daraz institution and its modern CEO.
history of daraz
Daraz turned into firstly based as an internet style retailer in Pakistan in 2012 by means of Muneeb Maayr and Farees Shah. Daraz’s initial investment came from Rocket net and focused at the fashion sector, however changed into changed to a trendy e-commerce marketplace in 2015.
Daraz group turned into formed in 2015 as the determine organization of Daraz’s operations in Pakistan, Bangladesh and Myanmar.In July 2016, Daraz acquired Kaymu, a purchaser-to-purchaser on line marketplace in South Asia. With this acquisition, it started operations in Nepal and Sri Lanka.
In September 2015, Daraz secured €50 million in its series B funding to guide the expansion of operations across its markets. CDC organization, a nation-owned development Finance institution (DFI) inside the united kingdom, invested €20 million alongside a €30 million investment from Daraz’s existing majority shareholder, Asia net Holdings.
In may additionally 2018, Daraz introduced it became received as an entirely owned subsidiary of Alibaba group for an undisclosed amount, as a part of Alibaba’s enlargement into South Asia. Following the purchase, Daraz explicit (DEX), Daraz’s in-house digitalised logistics arm became launched in September 2018 to help its growth into key markets. these days, DEX gives you over 60 in step with cent of all Daraz orders.
In 2021, Daraz improved into the meals transport and hyper-nearby grocery zone thru the acquisition of Bangladeshi startup HungryNaki. HungryNaki is getting extra popularity as meals shipping agencies in Bangladesh.